COMTECH TELECOMMUNICATIONS C CMTL
COM NEW · Common Stock · CUSIP 205826209 · ISIN US2058262096
Company headquartered in Chandler, Arizona, United States
- SectorTechnology
- IndustryRadio & Tv Broadcasting & Communications Equipment
- HeadquartersChandler, AZ
- Founded1972
- Websitecomtech.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Shares outstanding: 30.0m as of 2026-06-11, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $2.12. Options: 4 managers hold calls ($314.2k notional), 6 hold puts ($488.2k).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 144 |
| Q4 2022 | 132 |
| Q1 2023 | 138 |
| Q2 2023 | 150 |
| Q3 2023 | 129 |
| Q4 2023 | 134 |
| Q1 2024 | 112 |
| Q2 2024 | 101 |
| Q3 2024 | 69 |
| Q4 2024 | 72 |
| Q1 2025 | 64 |
| Q2 2025 | 63 |
| Q3 2025 | 63 |
| Q4 2025 | 70 |
| Q1 2026 | 84 |
| Q2 2026 | 77 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 20 | 67 |
| Q4 2024 | 34 | 34 |
| Q1 2025 | 23 | 41 |
| Q2 2025 | 28 | 27 |
| Q3 2025 | 26 | 28 |
| Q4 2025 | 30 | 29 |
| Q1 2026 | 48 | 24 |
| Q2 2026 | 30 | 47 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $287.2k | $183.4k | 0.64 |
| Q4 2025 | $927.3k | $432.2k | 0.47 |
| Q1 2026 | $346.9k | $323.4k | 0.93 |
| Q2 2026 | $314.2k | $488.2k | 1.55 |
Biggest buyers
| MML INVESTORS SERVICES, LLC | Added | +299.4k |
| ACADIAN ASSET MANAGEMENT LLC | Added | +196.5k |
| JANE STREET GROUP, LLC | Added | +185.4k |
| VANGUARD CAPITAL MANAGEMENT LLC | Added | +112.6k |
| JACOBS LEVY EQUITY MANAGEMENT, INC | Added | +111.1k |
| RENAISSANCE TECHNOLOGIES LLC | Added | +96.9k |
| XTX Topco Ltd | Added | +79.5k |
| Graham Capital Management, L.P. | Added | +57.2k |
| Virtu Financial LLC | New | +56.1k |
| ALGERT GLOBAL LLC | New | +42.0k |
Biggest sellers
| ROYCE & ASSOCIATES LP | Reduced | -1.6m |
| MARSHALL WACE, LLP | Reduced | -313.9k |
| NEEDHAM INVESTMENT MANAGEMENT LLC | Reduced | -267.9k |
| Beartown Capital Management, LLC | Sold out | -251.9k |
| CITADEL ADVISORS LLC | Reduced | -221.2k |
| TWO SIGMA INVESTMENTS, LP | Reduced | -220.0k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | -191.8k |
| GOLDMAN SACHS GROUP INC | Sold out | -128.8k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -107.1k |
| UBS Group AG | Reduced | -97.9k |
Biggest calls
| CITADEL ADVISORS LLC | New | $137.3k65.4k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $111.1k52.9k shares |
| GROUP ONE TRADING LLC | Reduced | $44.1k21.0k shares |
| IMC-Chicago, LLC | New | $21.6k10.3k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $169.5k80.7k shares |
| GROUP ONE TRADING LLC | Added | $144.1k68.6k shares |
| IMC-Chicago, LLC | Added | $81.9k39.0k shares |
| CITADEL ADVISORS LLC | Added | $58.0k27.6k shares |
| JANE STREET GROUP, LLC | New | $28.4k13.5k shares |
| SIMPLEX TRADING, LLC | New | $6.5k3.1k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
Magnetar Financial LLC
13D · may seek influence
+1.2 pts · filed 2026-06-17
Stated purposeItem 4 of the Schedule 13D is hereby amended and supplemented as follows: Amended Subordinated Credit Agreement On June 14, 2026, Comtech Telecommunications Corp. ("Comtech" or the "Company") entered into the Amendment No. 3 to Subordinated Credit Agreement (the "Subordinated Amendment No. 3") with the guarantors party thereto, the lenders party thereto and U.S. Bank Trust Company, National Association, as agent (the "Subordinated Agent"), which amends that certain Subordinated Credit Agreement, dated as of October 17, 2024, among the Company, the guarantors party thereto, the lenders party thereto and the Subordinated Agent (as amended by that certain Waiver and Amendment No. 1 to Subordinated Credit Agreement, dated as of March 3, 2025, and that certain Amendment No. 2 to Subordinated … Full filing |
42.8% |
White Hat Capital Partners LP
13D · may seek influence
no change · filed 2026-06-16
Stated purposeAmendment No. 3 to the Subordinated Credit Agreement In connection with the entry by the Issuer, on June 14, 2026, into a Securities Purchase Agreement (the "Purchase Agreement" and the transactions contemplated by the Purchase Agreement the "Transactions"), by and among the Issuer, certain direct or indirect subsidiaries of the Issuer named therein and Wavestream Corporation, a Delaware corporation and an affiliate of Gilat Satellite Networks Ltd, a company incorporated under the laws of the State of Israel, on June 14, 2026, the Issuer entered into an Amendment No. 3 to Subordinated Credit Agreement ("Amendment No. 3 to Subordinated Credit Agreement") with the guarantors party thereto, the lenders party thereto and the Subordinated Agent, which amends that certain Subordinated Credit Ag… Full filing |
10.0% |
| QVT Financial LP 13G · institution new · filed 2026-05-15 | 5.7% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-07-31 | 5.0% |
Fell to 5% or below in the last year: ROYCE & ASSOCIATES LP (0.5%, 2026-07-28), NEEDHAM INVESTMENT MANAGEMENT LLC (4.0%, 2026-02-13)
Insider purchases and sales since 1 Apr 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 0 | — | 0 | — | — |
| Q1 2026 | 0 | — | 0 | — | — |
| Q2 2026 | 0 | — | 1 | $520 | — |
| Q3 2026 | 0 | — | 0 | — | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-06-18 | Gizinski Daniel President, S&S Comm. Segment | Sold | $520200 shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| QVT Financial LP 0.21% of their portfolio | 1.7m $3.3m | Reduced -18.4k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 1.3m $2.7m | Added +112.6k |
| Beacon Pointe Advisors, LLC 0.01% of their portfolio | 1.2m $2.6m | Unchanged |
| NEEDHAM INVESTMENT MANAGEMENT LLC 0.06% of their portfolio | 906.4k $1.9m | Reduced -267.9k |
| TCW GROUP INC 0.01% of their portfolio | 726.8k $2.0m | Unchanged |
| MML INVESTORS SERVICES, LLC 0.00% of their portfolio | 689.7k $1.4m | Added +299.4k |
| ACADIAN ASSET MANAGEMENT LLC 0.00% of their portfolio | 599.8k $1.3m | Added +196.5k |
| MARSHALL WACE, LLP 0.00% of their portfolio | 553.2k $1.2m | Reduced -313.9k |
| BlackRock, Inc. 0.00% of their portfolio | 506.0k $1.1m | Added +22.1k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 479.9k $1.0m | Added +185.4k |
| Pacific Ridge Capital Partners, LLC 0.18% of their portfolio | 460.1k $966.1k | Reduced -3.7k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 441.5k $927.1k | Reduced -51.6k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 345.2k $725.3k | Reduced -6.6k |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 332.5k $698.2k | Added +96.9k |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 185.5k $389.5k | Added +11.6k |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 171.0k $359.1k | Added +6.0k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.00% of their portfolio | 163.0k $342.4k | Added +111.1k |
| ROYCE & ASSOCIATES LP 0.00% of their portfolio | 163.0k $342.2k | Reduced -1.6m |
| TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio | 156.1k $327.7k | Reduced -220.0k |
| XTX Topco Ltd 0.00% of their portfolio | 150.6k $316.3k | Added +79.5k |
| Mount Lucas Management LP 0.11% of their portfolio | 145.0k $304.5k | Reduced -15.0k |
| STATE STREET CORP 0.00% of their portfolio | 138.7k $291.3k | Reduced -500 |
| GLOBEFLEX CAPITAL L P 0.03% of their portfolio | 128.0k $268.8k | Reduced -69.1k |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 101.7k $213.6k | Reduced -107.1k |
| Graham Capital Management, L.P. 0.01% of their portfolio | 91.6k $192.3k | Added +57.2k |
| UBS Group AG 0.00% of their portfolio | 76.3k $160.3k | Reduced -97.9k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 67.3k $141.4k | Reduced -14.6k |
| Squarepoint Ops LLC 0.00% of their portfolio | 63.6k $133.7k | Added +24.3k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 59.9k $125.8k | Reduced -191.8k |
| Integrated Quantitative Investments LLC 0.02% of their portfolio | 59.5k $125.0k | Added +5.9k |
| Virtu Financial LLC 0.00% of their portfolio | 56.1k $118.0k | New |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 51.8k $108.9k | Reduced -221.2k |
| Connor, Clark & Lunn Investment Management Ltd. 0.00% of their portfolio | 44.8k $94.0k | Reduced -12.5k |
| ALGERT GLOBAL LLC 0.00% of their portfolio | 42.0k $88.2k | New |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 41.5k $88.0k | Added +9.6k |
| Schonfeld Strategic Advisors LLC 0.00% of their portfolio | 41.3k $86.8k | Added +12.4k |
| Cetera Investment Advisers 0.00% of their portfolio | 38.7k $81.2k | Reduced -2.3k |
| LPL Financial LLC 0.00% of their portfolio | 35.0k $73.6k | Added +2.1k |
| MORGAN STANLEY 0.00% of their portfolio | 33.7k $70.7k | Reduced -36.2k |
| Engineers Gate Manager LP 0.00% of their portfolio | 33.5k $70.4k | Reduced -63.5k |
| Invesco Ltd. 0.00% of their portfolio | 30.8k $64.7k | Added +17.6k |
| Penserra Capital Management LLC 0.00% of their portfolio | 29.9k $62.0k | New |
| BARCLAYS PLC 0.00% of their portfolio | 29.1k $61.1k | Reduced -486 |
| OCCUDO QUANTITATIVE STRATEGIES LP 0.00% of their portfolio | 26.2k $55.1k | Reduced -1.6k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 26.0k $54.6k | Reduced -10.0k |
| Quadrature Capital Ltd 0.00% of their portfolio | 25.5k $53.5k | New |
| SIMPLEX TRADING, LLC 0.00% of their portfolio | 24.2k $50.8k | Added +17.3k |
| STIFEL FINANCIAL CORP 0.00% of their portfolio | 22.6k $47.4k | Unchanged |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 19.3k $39.8k | Reduced -3.3k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.00% of their portfolio | 18.5k $38.8k | Unchanged |
| Point72 Asset Management, L.P. 0.00% of their portfolio | 18.3k $38.5k | Reduced -15.4k |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 16.7k $35.1k | Reduced -4.2k |
| Cresset Asset Management, LLC 0.00% of their portfolio | 15.0k $31.5k | Unchanged |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 11.9k $24.9k | Reduced -20.8k |
| IMC-Chicago, LLC 0.00% of their portfolio | 10.9k $22.9k | New |
| Vanguard Global Advisers, LLC 0.00% of their portfolio | 10.7k $22.5k | Unchanged |
| Legato Capital Management LLC 0.00% of their portfolio | 10.3k $21.7k | New |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 6.2k $12.7k | Added +6.1k |
| US BANCORP \DE\ 0.00% of their portfolio | 6.0k $12.6k | Unchanged |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio | 4.3k $8.9k | Unchanged |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 1.5k $3.0k | Reduced -685 |
| FEDERATED HERMES, INC. 0.00% of their portfolio | 1.5k $3.2k | Added +722 |
| NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio | 909 $1.9k | Unchanged |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 680 $1.4k | Reduced -8.7k |
| Crewe Advisors LLC 0.00% of their portfolio | 500 $1.1k | New |
| Torren Management, LLC 0.00% of their portfolio | 350 $735 | Unchanged |
| SBI Securities Co., Ltd. 0.00% of their portfolio | 302 $634 | Added +23 |
| Rialto Wealth Management, LLC 0.00% of their portfolio | 245 $515 | New |
| Farther Finance Advisors, LLC 0.00% of their portfolio | 215 $452 | Unchanged |
| Investors Research Corp 0.00% of their portfolio | 200 $420 | Unchanged |
| Elequin Capital, LP 0.00% of their portfolio | 129 $271 | New |
| FMR LLC 0.00% of their portfolio | 100 $210 | Reduced -5 |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 88 $185 | Reduced -86 |
| Physician Wealth Advisors, Inc. 0.00% of their portfolio | 31 $66 | Unchanged |
| NewEdge Advisors, LLC 0.00% of their portfolio | 15 $32 | Unchanged |
| Atlantic Union Bankshares Corp 0.00% of their portfolio | 3 $7 | Unchanged |
| HUNTINGTON NATIONAL BANK 0.00% of their portfolio | 1 $2 | Unchanged |